Entrepreneurship is proceeded of setting out on your own and starting a business instead of working for someone else in his business. We are conscious that entrepreneurship is regarded as one of the four major factors of production, the other three being land, labour and capital. The most understandable example of entrepreneurship is the starting of innovative businesses.
Entrepreneurship training provides individuals with the aptitude to identify business opportunities, self‐esteem, knowledge and skills to act on them. It includes instruction in chance identification, commercializing a concept, managing resources, and initiating business speculation.
Entrepreneurship training advantage include –
(1) It is an engine for job creation and economic growth. An entrepreneur sets up a new business and in doing so, provides employment opportunities. The govt. or local authorities carry out taxation and this goes increasing countries revenue.
(2) Entrepreneurship brings out leadership qualities in an entrepreneur. Such an entrepreneur can be offered training opportunities to sharpen his skills. The trained entrepreneur can then benefit other organizations or a community.
(3) Entrepreneurship efforts the entrepreneur the freedom to manage his enterprise as he wishes.
(4) Entrepreneurship encourages competition as each potential entrepreneur tries to come up with the best innovation. This also translates in quality goods and services.
(5) Entrepreneurs or the move towards self‐employment is and will continue to become, an increasingly important element of economic growth and development.